All Homes Under $400,000
These are all listed homes for sale under $400,000. Note that if the home is priced below $180,000 it is in the income-qualified affordable program. You can also check the Mueller Off-MLS page. I would like to help you purchase a home – new, resale or custom construction.
There are different price points here, and the most popular category is below $400,000. I often get asked if there are any homes below $300,000 and in practice there have been very few to date – which gives rise to the term “affordability gap” – the price point between the income qualified program and the market rate homes. New releases of homes typically have one home that is “from $250,000″, though this is often the first home to sell and then there is a large increment in price to the next home that is on the market. These lower priced market rate homes don’t make it onto the MLS – often the builder reserves using the MLS for the second wave of homes that they sell – they typically work off a list for the first homes.
Also there are non traditional sales that make this list – the resale affordable homes that don’t stay in the program are put onto the open market, and the income guidelines are different for these, to ensure borrowers can qualify – typically you have to earn less than 120% of the Austin median family income.
Overall, the $300,000 to $400,000 represents the largest part of the inventory at Mueller, with some homes moving into this price bracket and some moving out of the upper end. While it may seem that the custom homes dominate the market, this is just a facet of the fast moving nature of the lower priced part of the housing market.
Also there are non traditional sales that make this list – the resale affordable homes that don’t stay in the program are put onto the open market, and the income guidelines are different for these, to ensure borrowers can qualify – typically you have to earn less than 120% of the Austin median family income.
Overall, the $300,000 to $400,000 represents the largest part of the inventory at Mueller, with some homes moving into this price bracket and some moving out of the upper end. While it may seem that the custom homes dominate the market, this is just a facet of the fast moving nature of the lower priced part of the housing market.